India Globalization Capital Recognized as a Top Percentage Gainer by New York Stock Exchange Alternext

India Globalization Capital, Inc. (NYSE Amex: IGC), a company competing in the rapidly growing infrastructure industry in India, today announced that India Globalization Capital was one the leading price percentage gainers on the New York Stock Exchange Alternext on Wednesday, May 27th, 2009. Shares of IGC closed at $1.07, a percentage intraday gain of 19% and a closing gain of 17% on the day. For more information on India Globalization Capital please visit: www.indiaglobalcap.com .

About IGC

India Globalization Capital is a construction and materials company operating in India, which builds roads, bridges and highways, and provides materials to the infrastructure industry in India.

The company has offices in Maryland, Mauritius, Nagpur, Cochin, Delhi and Bangalore. Copies of the Form S-3 and India Globalization Capital's other filings with the SEC containing information about India Globalization Capital, our Indian operations and other relevant documents, are available at no charge at the SEC's Internet site ( http://www.sec.gov ). For more information about India Globalization Capital, visit the company's web site at www.indiaglobalcap.com .

Forward-Looking Statements:

This press release may contain forward-looking statements. These statements reflect management's current views and are subject to risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied in these statements. Factors, which could cause actual results to differ, relate to: (i) the ability of the parties to successfully execute on the contracts and business plan, (ii) our ability to raise additional capital and the structure of such capital including the exercise of warrants, and (iii) changes in the exchange rate between the US dollar and the Indian Rupee. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward-looking statements have been discussed in greater detail in the company's definitive proxy statement and supplement filed with the SEC and incorporated by reference into the Form S-3.

Contact: John Selvaraj India Globalization Capital, Inc. 1-301-983-0998 Email Contact http://www.indiaglobalcap.com